The High Court has disqualified Michael McGuigan from South Belfast from being a company director for a period of nine years as a result of his conduct as a director of Zakks (NI) and Nagoya.

The two businesses were finally wound up owing an estimated £1,280,000 to creditors and McGuigan received a jail sentence in relation to his activities with these business in February 2000. Virtually all of the debt was owed to the Crown.

The courts recently disqualified McGuigan from being a director for his involvement in the management of both Zakks (NI) Limited and Nagoya Limited as he had been convicted of indictable offences in connection with the management of these companies which had traded dishonestly.

Zakks (NI) Limited carried on business as hairdressers from 13 April 1998 to 21 September 2000 was wound up by the High Court on 21 September 2000 with an estimated deficiency to creditors of £1,007,577. The company used the following trading names: Zakks, 1 Bradbury Place, Belfast; Zabbatt, 87 Dublin Road, Belfast; Barber Shop, 3 Botanic Avenue, Belfast; and Cutters, Lockview Road, Belfast.

Nagoya Limited, also a hairdressing business, traded under the name 'The Stafford Salon' at 45 Queen Street, Belfast from18 August 1992 to 30 November 2000. It was wound up by the High Court on 30 November 2000 with an estimated deficiency to creditors of £263,611.

The case, which concluded in January 2003, was brought by the Insolvency Service of the Department of Enterprise, Trade and Investment under Article 5 of the Companies (NI) Order 1989 which seeks to protect the public and trading community from the abuses of the privilege conferred by limited liability status.

(SP)